I was reading the big drop in ad revenue for Facebook/Google is Apple forcing people to explicitly opt in to being tracked by their shitty spyware, so it's lead to a massive drop off in their ability to target people accurately, which has cratered their (ad) business.
Also, the Metaverse has fewer active users than MySpace has, today
Apparently in a $6b hole which would put the Binance deal in doubt. Either way crypto is surely an absolute wasteland after this.
Yeah its fucked. Sam was valued at 20bil this time last year and was the hope and saviour of crypto. You basically have Binance left as a major player, and there's a lot of rumours about them too that if proven would crumble the whole thing.Originally Posted by -james-
And BTC tanks to just over 17k, this shit is going down hard.
Outside of the odd dabble in Ethereum and the like, I can't say I know anything about crypto. But I am shocked that they've turned out to be a bit of a racket.
How's you rainbow nonce NFT going Barrington?
A lad at my work has dumped £20k in one of those syndicates that trades Forex. Basically Bazbot come to life.
Meta to shed 11k jobs. https://www.theguardian.com/technolo...droidApp_Other
A lot of industries have absolutely fucked themselves by believing that a once in a lifetime pandemic was going to fundamentally change all human behaviour forever, rather than just being a once in a lifetime pandemic.
I don't know, Jim. what's MonkeyPox up to now? And isn't Polio having a little walk around London at the moment? There's plenty more scope for insanity and misery or the horizon yet.
Nothing more satisfying than watching another crypto racket crash and burn.
It's over for FTX. SBF is probably looking at 150 years. Crazy.
And BTC is probably gonna go back to pre-covid high of 6k. Documentary on that bubble will be good.
Been dabbling a bit in the ‘buy the dip mentality’ which has resulted in me owning shares in a company called DCC which I know nothing about. Something to do with paper, or marketing or something. It dropped a good 7% or something in a day and seemed to have reasonably positive results so I thought fuck it, dividend in a week or so. Hasn’t rebounded as quickly as I wanted though. Hopefully it rises a 1% or 2 tomorrow so I can unload.
There’s quite a lot of intra day movement on a lot of shares so can totally get the whole if you’ve got money, it’s easy to make money philosophy.
Anyone fancy some shares in a paper (or marketing) company?
We're on the brink of recession, so Marketing companies are taking a bit of a hammering at the moment. It's often the first thing companies cut back on.
I've been buying housing stocks which are on their knees at the moment. Superb dividends (which could well be cut) and should recover well in the long term.
Can't wait to see how badly i've misread the situation
Yeah I’ve been debating persimmon for a while. I bought it last year for like £20 a share and punted it pre dividends for a 5% gain. It’s near 60% of that now.. which is tempting but surely tougher times to come. The dividend is going to be pennies this time around for these companies, otherwise they’ll bankrupt themselves.
Up about £260 this week from sales. Basically just trying to continually flip for small rewards. Could’ve had more given the market has continued to rise, but keen to avoid missing an opportunity to cash in.
BAE systems is back to near February/March levels which is interesting.
FTX filed for bankruptcy lol
Do you need me to sort you some food vouchers from work James?
I'll be fine. I've converted my imaginary FTX USD into ETH so maybe that'll be a nice wee windfall in about two decades time.
I’ve got loads of Ethereum so fuck it off mate.
https://twitter.com/kadhim/status/1593222595390107649
Some early findings from the investigation into FTX's finances. Absolutely comical stuff.
Cryptocurrency in being a fraud shocker.
They'll all get found out eventually. I'm invested in a few (of the more reputable ones - mostly ETH - but that isn't saying much) and I absolutely could not have any grounds for complaint if they disappeared into thin air tomorrow.
Matt Levine's newsletter is great on this. Definite magic beans accounting in ftx
Capital gains tax free amount reduced from 12k to 6k and then 3k the following year
Are ISA's still immune upto 20k a year?
Worry about making 6k first.Capital gains tax free amount reduced from 12k to 6k and then 3k the following year
Exactly this.
My chance to unload DCC and GSK pre dividend didn’t materialise so I’m now a HODLer. Also bought (the first) dip of an energy company (harbour) which have tanked further today. So probably going to have to go balls deep tomorrow or next week if it drops further in the hope there’s an uptick and I can cost average my way out.
Managed to dump GSK for fuck all profit (£28
Smith and Nephew back at £11 which is annoying as I didn’t hold the shares I had at £10. Lesson learned, buy some to hold and some to trade. Still though it brings my middle bunch back in play and reduces my loss.
Probably “up” about £1500 all things considered, which isn’t bad given I’ve no idea what I’m doing.
Decided I’m going to sell a big chunk of my gaff and try and trade them. If you’re staking £7-10k you really don’t need that big a swing to siphon off money, and can probably do it with intra day 2% swings. If they keep going up, no worries as happy to have sold them for original price. If they go down, buy them back and bank the “profit”.
Trying to unload some of the shares I bought a few years ago before the capital gains rules change too. The shares im selling are up 85%. Seems sensible to take some of that profit.
If rolls Royce could not throw a fit when it approched £1 that would be nice also. Would like to cut my losses on that mistake.
Some updates…
I sold about £6500 of my company shares, bought them back the next day for 2% less and have them watched them dwindle below that. They briefly approached profit today, and I debated the sell but held out for an another couple of pence only to see them tumble.
I’ve been buying and selling harbour energy (£3.01 buy, £3.10) sell to try and mitigate the fact I bought a bunch at £3.40odd.
I’m still trading smith and nephew semi frequently, again only seeking small repeating swings.
I delved into Taylor wimpey when it was just above £1 (and then sold it later that day when it inexplicably rose 4%) so I’ve just repeated the same trick.
I’ve set myself a £60/week profit target, which would be £3000/year as a side hustle.
Today was a good start, with TW, S&N and Harbour sales getting me about £170 of the way there for January. December was £400, and November a bumper £850. Quite enjoyable, but it’ll all fall apart at some point.
I have little to no faith in the long term share price of my company so I’ve also been purging shares of them whilst they’re still trading (what I think is) relatively high. Ditched £700worth today which takes me to £27k in the last 12 months.
Bought some fizzy lucozade to celebrate.
Definitely want to buy some TW to hold long term though, and the next time it dips down towards £1 I’m going to double up my buy for exactly that reason.
I’m copying you Spikey, so if your ship sinks, we can drown together.
What flavour? Tropical always seem to be out of stock so I end up with Caribbean Crush.
I'm a twit
Foe, can't you just pay your house off or buy a rental property?
I paid off my 2 bed flat a few years ago and have debated buying a house for a while, but I don’t really need any more space. I quite like living where I do so I think I’ll just stay until I can buy a (modest) house close to mortgage free.
Orange. Always fizzy orange.
Hold fuck that went wrong quickly.
Although fairly high on the back of Covid I think Games Workshop could rocket in about 18 months when Henry Cavill rolls out his megabucks live action Warhammer stuff for Amazon.
Didn't their last boom come off the back of licensing/total war etc (which CA have now sort of fucked)? Not sure I'd bet the farm on the 40th anniversary of WHFB or this new Old World thing they have planned which I suspect will be released this year.
They made a fortune during covid and were quite the success story even paying out sizeable bonuses to all employees. Yeah I don't think any of that stuff will move the needle much outside their fanbase but if they pull off a decent series they could pull in tens of thousands of virgins in one fell swoop.
Harbour dropped from £3.15 yesterday to £2.70 today.
A 15% drop in about 36 hours.
Obviously I bought at £3 and then £2.85 so max exposure to me if it continues to plummet. It settled back up around £2.85 so hopefully it kicks back tomorrow.
I suspect energy markets are going to extremely volatile over the next 1-2 months, particularly in and around 5th Feb.
What’s 5th Feb?
Russian oil products ban kicks in does it’s not?
Oil was 5th December. Apparently petroleum products is 5th February but from the article I just read it seems to be only the UK doing this one so hopefully any market effects are minimal.
Yeah, maybe.
I was reading an article about Saudi Arabia dropping price of their oil to Asian markets, which I suspect is going to be the start of a new power struggle for market share.
Russian crude needs to go somewhere so if they try to muscle in on Asia, will be interesting to see how the other players respond.
Fucking everything was up today basically, so slim buying opportunities aside from glencore or Anglo American, but they’re just dipping from highs so a bit more risky.
Hopefully tomorrow is a bit more red so I can sneak back into a few players.
Binned some S&N I’d be holding for months and legal and general, each only for about £40 profit. But small and regular is the aim.
Russia sells it to India for cheap, and then they slap a Premier mark-up on it and sell it on.
I’ve got no fucking idea what’s going on. It basically undid all of yesterdays damage is back trading just under £3. Sold my £2.85 shares for £2.92ish for £60 profit in about a day. Presumably tomorrow it’s going to plummet again, so I’ve set a buy at £2.75 this time.
Volatility, max risk, no knowledge - that’s my sweet spot.
Also delved back into GSK today as it was down slightly. They de-risked their cancer drug problem late last year, spiked massively and have just been drifting down since.
Taylor wimpey has shot up though so my take small wins strategy fails that one. Have to wait for it to “settle” before I think about jumping back in.
What sort of % of available equity are people using for shares?
I’ve got about 45% of my available money in my trading account, of which about 70% is invested and the other 30% used with buy orders for dips.
10%, maybe even less. I’ve got no time to focus on frequent trading and I’m not clued up enough to dabble in sleepers.
Had some reasonable news that 4D will be listed again (albeit a pretty strong reduction) so the stock moves from worthless to maybe it can return something at a point in time.
What are you doing with the other 55% of your money?
I've got 70% in shares, and similarly to you, far too much of that is in the company I work for. Other than that, I have the complete polar opposite trading style to you. I buy and hold for years, if not decades. How are you managing all the brokerage fees from trading all the time?
And the tax side of it.
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